Biden accused Russia and OPEC

US President Joe Biden accused RUSSIA and member states of the Organization of the Petroleum Exporting Countries (OPEC) of persistently high hydrocarbon prices. He made this statement during the summit of heads of state under the UN Convention on Climate Change (COP26) in Glasgow.

“Firstly, an important reason for the price increase is that the CORONAVIRUS pandemic has affected the supply chain <...> Secondly, if you pay attention to the cost of gasoline, the cost of oil is the consequences of the fact that so far Russia or the OPEC countries refuse to produce more oil,” he said.

At the same time, Biden said that he was waiting for developments. “Let's see what happens with this, and we will see it sooner rather than later,” said the US President .

On November 1, Biden, during a press conference in Rome at the end of the G20 summit, said that the refusal of Russia, Saudi Arabia and other oil-producing countries to increase oil production against the backdrop of rising prices for petroleum products is a wrong step. “I think the idea that Russia and Saudi Arabia, as well as other leading oil-producing countries, will not produce more oil <...> is wrong,” he said.